Revenue Act (1926)- reduced federal income and inheritance hugely Andrew Mellon-Coolidge's secretary of treasury who was the main force behind tax cuts Stock Market Boom- a time when the stock market was doing really well, many people started to invest their money in stocks "Black Tuesday"-October 29, 1929 beginning of the crash on Wall Street...was a devastating day in history Declining Exports- our international trade was not doing well throughout the depression International Debt Structure- major contributing factor, many countries were in debt because of the war Unemployment-unemployment rates began to soar and this caused a huge decrease in production "Dust Bowl"- when dust would blow on southern plains which caused crops being blown away "Okies"-farmers that moved from Oklahoma to other states in order to become more successful Women in the Workplace-many women joined the workforce, worked in terrible environments for low wage Depression families-did not own much, very poor and this ripped the family apart Radio-President Roosevelt would speak during radio talk shows about the depression Self-blame-self blame/self doubt made it harder to get out of the depression Popular Movies- Wizard if Oz; Beginning of Hollywood Popular Literature- Life Magazine Agricultural Marketing Act-reaffirmed the marketing agreements provisions of the Agricultural Adjustment Act of 1933 Hoover's declining popularity-Hoovervilles, places that placed blame on Herbert Hoover for the Depression
Important Notes: -it was the worst worldwide, economic slump ever -longest and most horrid depression ever experienced by the industrial world -lasted about a decade -caused by an imbalance of wealth, pushed by the federal government, which created an unstable economy -depression began by the crash of the new york stock market (october 1929) -"roaring twenties" was an era with much prosperity bringing in about $15.7 billion in six years -average wages for manufacturing jobs increased -flow of American investments slowed down with its slowing ecomony -depression hit the hardest to those who were mostly indebted to the United States -Britain's industry and export centers were badly effected until World War II -almost every nation tried to impose tariffs and setting qualifications for foreign imports -great reduce in international trade -over supply of goods -reduced levels of spending and production supported the downward spiral -3/4 of the U.S. population would spend essentially all their yearly income on consumer goods -United States began to rely on credit sales and luxury in order to remain even -idea of credit began to evolve and the total amount of credit doubled to $3 billion which led to a bad downfall -agriculture was dying -nationwide loss of confidence in the economy -most industries that were prospering were in some way linked to the automotive or radio industries
Important Dates: -began in late 1929 and ended in about 1939 -farm prices plummeted in 1921 -over 21 million cars were on the road by 1928 -11,000 United States had failed by 1933 -the United States manufacturing output had fallen 54% by 1932 -unemployment, in the United States as well as Germany, rose to 25-30% by 1932 -total value of world trade decreased by half by 1932
Key Terms:
Revenue Act (1926)- reduced federal income and inheritance hugely
Andrew Mellon-Coolidge's secretary of treasury who was the main force behind tax cuts
Stock Market Boom- a time when the stock market was doing really well, many people started to invest their money in stocks
"Black Tuesday"-October 29, 1929 beginning of the crash on Wall Street...was a devastating day in history
Declining Exports- our international trade was not doing well throughout the depression
International Debt Structure- major contributing factor, many countries were in debt because of the war
Unemployment-unemployment rates began to soar and this caused a huge decrease in production
"Dust Bowl"- when dust would blow on southern plains which caused crops being blown away
"Okies"- farmers that moved from Oklahoma to other states in order to become more successful
Women in the Workplace-many women joined the workforce, worked in terrible environments for low wage
Depression families-did not own much, very poor and this ripped the family apart
Radio-President Roosevelt would speak during radio talk shows about the depression
Self-blame-self blame/self doubt made it harder to get out of the depression
Popular Movies- Wizard if Oz; Beginning of Hollywood
Popular Literature- Life Magazine
Agricultural Marketing Act-reaffirmed the marketing agreements provisions of the Agricultural Adjustment Act of 1933
Hoover's declining popularity-Hoovervilles, places that placed blame on Herbert Hoover for the Depression
Important Notes:
-it was the worst worldwide, economic slump ever
-longest and most horrid depression ever experienced by the industrial world
-lasted about a decade
-caused by an imbalance of wealth, pushed by the federal government, which created an unstable economy
-depression began by the crash of the new york stock market (october 1929)
-"roaring twenties" was an era with much prosperity bringing in about $15.7 billion in six years
-average wages for manufacturing jobs increased
-flow of American investments slowed down with its slowing ecomony
-depression hit the hardest to those who were mostly indebted to the United States
-Britain's industry and export centers were badly effected until World War II
-almost every nation tried to impose tariffs and setting qualifications for foreign imports
-great reduce in international trade
-over supply of goods
-reduced levels of spending and production supported the downward spiral
-3/4 of the U.S. population would spend essentially all their yearly income on consumer goods
-United States began to rely on credit sales and luxury in order to remain even
-idea of credit began to evolve and the total amount of credit doubled to $3 billion which led to a bad downfall
-agriculture was dying
-nationwide loss of confidence in the economy
-most industries that were prospering were in some way linked to the automotive or radio industries
Important Dates:
-began in late 1929 and ended in about 1939
-farm prices plummeted in 1921
-over 21 million cars were on the road by 1928
-11,000 United States had failed by 1933
-the United States manufacturing output had fallen 54% by 1932
-unemployment, in the United States as well as Germany, rose to 25-30% by 1932
-total value of world trade decreased by half by 1932
Images:
Links to check out!
http://www.english.illinois.edu/maps/depression/about.htm
http://www.youtube.com/watch?v=Ubmjc83yAtI&feature=related
http://www.fdic.gov/about/learn/learning/when/1930s.html
http://www.agclassroom.org/gan/timeline/1930.htm